jswede wrote:If you rented, then you didn't put money down to buy a house.
I've bought two homes, and I've put less down on them than I had to put on any of the 4 previous apartments I stayed in that required first and last month's rent.
jswede wrote:Renting doesn't get you anything, but it does not cost a downpayment+taxes+insurance either. That money invested, even conservatively, will create more wealth than a home over time.
I agree with you here, but ask yourself how many people actually have the self-control to do what you just said. Remember, this is a country that thinks that putting money into Social Security, a system with a negative ROI, is better than putting that money into the market.
I agree with your tenet, but it just won't work in practice - and that's not even considering what happens to the renters who lose everything in the market and then don't have any equity in a tangible asset to shore them up during the tough times.